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PERFECTLY ELASTIC: An elasticity alternative in which infinitesimally small changes in price cause infinitely large changes in quantity. In other words, quantity is hyper, super, infinitely responsive to price. Any change in price, no matter how small triggers an infinite change in quantity. Perfectly elastic should be compared with other elasticity alternatives--perfectly inelastic, relatively elastic, relatively inelastic, and unit elastic.
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AVERAGE FIXED COST CURVE A curve that graphically represents the relation between average fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average fixed cost and the level of output, holding other variables, like technology and resource prices, constant. The average fixed cost curve is one of three average curves. The other two are average total cost curve and average variable cost curve. A related curve is the marginal cost curve.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for strangers with large satchels of used undergarments.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"For a writer, published works are like fallen flowers, but the expected new work is like a calyx waiting to blossom." -- Cao Yu, Playwright
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AAO
Authorized Acquisition Objective
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